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Alkem may announce IPO price band soon

Drugmaker Alkem Laboratories Ltd, which is raising about Rs. 1,344 crore ($201.3 million) through an initial public offering, could announce the price band on November 30 or December 1, according to two sources familiar with the matter.

Earlier this month, report that the company would launch the IPO by the second week of December.

The issue size for cornerstone investors is seen at about Rs. 400 crore of the total Rs. 672 crore reserved for institutional investors, said the sources, who declined to be named as details of the listing are not public.

A spokesman for Alkem declined to comment.

The issue will be open to anchor investors on December 7 and will be open to retail investors from December 8-10, Alkem said in its red herring prospectus on Friday.

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